March 23, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
RISK: The possibility of gain or loss. Risk the calculated probability of different events happening, is usually contrasted with uncertainty the possibility that any number of things could happen. For example, uncertainty is the possibility that you could win or lose $100 on the flip of a coin. You don't know which will happen, it could go either way. Risk, in contrast, is the 50 percent chance of winning $100 and the 50 percent chance of losing $100 on the flip of the coin. You know (or think you know) that your probability of winning or losing is 50 percent because the coin has a 50 percent chance of coming up either heads or tails.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 3: Scarcity | Unit 4: College Cost Page: 14 of 17

Topic: Summary <=PAGE BACK | PAGE NEXT=>

  • The opportunity cost of a college education.
  • Why explicit, out-of-pocket payments are only part of the opportunity cost of an education.
  • The importance of implicit opportunity costs, such as foregone earnings or foregone satisfaction, to the total cost of an education.
  • Why some college costs, such as room and board, are not opportunity costs or an education.

Course Home | Lesson Menu | Page Back | Page Next


A graphical representation of the relation between aggregate expenditures on real production and the price level, holding all ceteris paribus aggregate demand determinants constant. The aggregate demand (AD) curve is one side of the graphical presentation of the aggregate market. The other side is occupied by the long-run aggregate supply curve and/or the short-run aggregate supply curve. The negative slope of the aggregate demand curve captures the inverse relation between aggregate expenditures on real production and the price level. This negative slope is attributable to the interest-rate, real-balance, and net-export effects.

Complete Entry | Visit the WEB*pedia


[What's This?]

Today, you are likely to spend a great deal of time at a flea market wanting to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for a thesaurus filled with typos.
Your Complete Scope

This isn't me! What am I?

North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
"It is not the straining for great things that is most effective; it is the doing of the little things, the common duties, a little better and better."

-- Elizabeth Stuart Phelps, Writer

Clearing House Interbank Payments Systems (US)
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback

| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster